Opus West To File Chapter 11; Opus East Chapter 7
July 2, 2009
Two months ago Opus South filed bankruptcy and now following suit is Opus West, who has disclosed its intention to file Chapter 11 bankruptcy (reorganization). In addition, Opus has filed Chapter 7 (liquidation) and decided to liquidate Opus East.
We previously discussed Opus West and some of their local projects below in a few previous articles which are linked below, but this doesn’t come as much of a surprise.
- Opus West Bankruptcy Looming [June 10, 2009]
- Opus South Files Chapter 11 BK [April 23, 2009]
Opus is not an isolated case either, there will be many more developers and owners likely going down this path over the next 12-24 months.
Similar Posts:
- Opus West Bankruptcy Looming
- Opus South Files Chapter 11 BK
- Opus West Finishing Up Sierra Point in Brisbane
- Mervyn’s Files Chapter 11 Bankruptcy
- Ritz Camera Files Chapter 11 Bankruptcy
Categories:
Commercial Development | Notable Deals
Tags: Bankruptcy, Developers, Opus, Opus East, Opus South, Opus West
Tags: Bankruptcy, Developers, Opus, Opus East, Opus South, Opus West
Yup, we had them file here a couple of months ago. Wachovia and Bank of America are up to their eyeballs in debt with Opus. Its not pretty to see these large developers bite the dust.
Its the real effect of recession. Many big brand companies are filing bankruptcy. To file bankruptcy is not a shame, its help from gov who are in bad credit. i have also filed bankruptcy from Diy4law. Thanks for giving this update.